Bitcoin hash rate reaches all-time high, crypto derivatives market saw busiest trading day of 2020 and Bitcoin price cools off at 8.700 USD
Bitcoin hash rate reaches all-time high
According to CoinMetrics data, the mining dificulty of Bitcoin increased 7% after a major adjustment, reaching an all-time high of 14.8T.
The “difficulty” represents the number of hashes, or solutions, necessary to find a solution to a complex mathematical problem that is required to create a new block. Usually, the harder it is to earn rewards, the more expensive Bitcoin gets.
Crypto derivatives market saw busiest trading day of 2020
Cryptocurrency derivatives trading struck its highest trading volumes of 2020 on Tuesday, while total trading volumes of futures and options jumped by 9% for BTC and 16% for ETH.
For Bitcoin futures contracts, roughly $25 billion traded hands during the single day, making Jan. 14 the busiest session since Oct. 26.
Bitcoin price cools off at 8.700 USD
Bitcoin calmed its bullish growth after a week of gains on 15 January, settling just below its highest level in two months.
So far, January 2020 has already marked Bitcoin’s most successful start to the new year since 2012.
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